Costly loss for sports team owners embedded in Trump tax bill

Quick Summary:

A lucrative tax break that sports team owners can use to shelter billions of dollars of income would be halved in value under House Republicans’ draft legislation.

But one lawyer involved in sports issues before Congress — speaking on condition of anonymity — said clients were calling this week concerned about the change and anticipated a fierce lobbying campaign to strip out the provision when the Senate considers the tax bill.

As a result, owners are permitted to amortize costs assigned to those items over a 15-year period — even if most of those assets do not actually depreciate like physical buildings and other property — to cut as much as billions of dollars from their taxable income.

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Article Details

Author / Journalist: Billy House, Bloomberg

Category: EconomyBusiness

Markets: United States

Topics: Donald Trump Taxes Congress

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-17 @ 15:19:11 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 816 words

Reading Time: 5 minutes read

Sentences: 4 lines

Sentence Length: 204 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28764821

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Official Website: fortune.com

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